136-138 E FRANKLIN ST Under Contract Save Request In-Person Tour Request Virtual Tour
Hagerstown,MD 21740
Key Details
Property Type Multi-Family
Sub Type Detached
Listing Status Under Contract
Purchase Type For Sale
Square Footage 5,000 sqft
Price per Sqft $140
MLS Listing ID MDWA2025592
Style Colonial
Year Built 1894
Annual Tax Amount $4,055
Tax Year 2021
Lot Size 9,840 Sqft
Property Description
Prime investment opportunity! Currently generating over $7,000 in monthly rental income with potential for further increases to market rates, this all-brick, fully-occupied multi-family property in downtown Hagerstown offers an exceptional addition to any portfolio. Featuring six spacious units, approximately 835 sq ft each, the building is fully equipped with separate electric meters, placing utility responsibility on tenants and streamlining management. Solid structural integrity is ensured with a brick and masonry foundation, complemented by new replacement windows that enhance energy efficiency. Each floor is thoughtfully laid out with two large units, providing tenants with ample living space and privacy.
Situated in a high-demand area blending residential and commercial properties, the building benefits from a steady influx of local and out-of-town investors who are actively refurbishing neighboring properties. With rental licenses, lead certificates, and compliant zoning already in place, this property holds a legal, non-conforming grandfathered status, ensuring no adverse impact on rental income or property value. For added convenience, the property includes private rear parking, and current leases are available for qualified investors’ review. Located at the gateway to Hagerstown’s vibrant arts and entertainment district, this turnkey property offers strong rental appeal and significant investment potential. Don’t miss the opportunity to acquire a robust, low-maintenance property in a prime location.
AS A BONUS, PURCHASE THIS BUILDING ALONG WITH ANOTHER SIX-UNIT PROPERTY FROM THE SAME SELLER for an expanded investment opportunity in this vibrant area
Location
State MD
County Washington
Zoning CCMU
Interior
Hot Water Electric
Heating Baseboard - Electric
Cooling None
Exterior
Garage Spaces 6.0
Water Access N
Building
Foundation Permanent,Other,Concrete Perimeter
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Washington County Public Schools
Others
Special Listing Condition Standard